2019/2020 Federal Budget

The Federal Treasurer, Mr Josh Frydenberg, handed down the governments Federal Budget on the 2nd of April 2019.

Being an election year budget, this one was always going to be highly scrutinised and compared to the leader of the oppositions reply budget measures, because at this point we can’t be sure which party will be leading the country by the end of the year. As always there are winners and losers and we have provided a summary below of the key changes to individuals, business owners and superannuants.

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Chess, Not Checkers – Why Cash Isn’t Always King

It’s no secret that the Australian Taxation Office (ATO) is in constant pursuance of those who underreport their income. With the data-matching systems the ATO has its disposal becoming more in-depth and sophisticated, the ATO is cracking down on the ‘cash economy’ more so than ever. The ATO describes the cash economy as occurring when ‘businesses deliberately use cash transactions to hide income to avoid paying taxes’.

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